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June 11, 2014
10:00 EDTPSO, DCIX, BEAV, PRXL, TEU, DDD, TBBK, MAR, BAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded at Gabelli... BE Aerospace (BEAV) downgraded to Hold at Canaccord... Boeing (BA) downgraded to Sector Perform from Outperform at RBC Capital... Box Ships (TEU) downgraded to Underweight from Equal Weight at Barclays... Diana Containerships (DCIX) downgraded to Underweight from Equal Weight at Barclays... Marriott (MAR) downgraded at Macquarie... PAREXEL (PRXL) downgraded to Buy from Strong Buy at ISI Group... Pearson (PSO) downgraded to Sell from Neutral at Goldman... The Bancorp (TBBK) downgraded to Neutral from Buy at Sterne Agee.
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November 16, 2015
09:19 EDTMAROn The Fly: Pre-market Movers
HIGHER: Nexvet Biopharma (NVET), up 16.8% after NV-01 study meets primary endpoint... Protalix BioTherapeutics (PLX), up 4.8% after announcing that it will conduct a Phase III clinical trial for PRX-102... Array Biopharma (ARRY), up 4.3% after announcing a commercialization collaboration with Pierre Fabre... Perrigo (PRGO), up 2.1% after being upgraded to Buy from Neutral at UBS. DOWN AFTER EARNINGS: Dillard's (DDS), down 11.7% after reporting quarterly results. ALSO LOWER: Clovis Oncology (CLVS), down 71.3% after the FDA requested additional clinical data for rociletinib... KaloBios Pharmaceuticals (KBIO), down 48.9% after announcing that it will wind down its operations... Starwood Hotels (HOT), down 6.3% after announcing that Marriott (MAR) will acquire the company... Marriott is down 2.4%... Five Below (FIVE), down 3.1% after being downgraded to Hold from Buy at Deutsche Bank.
09:13 EDTMARMarriott CEO Sorenson says Starwood brands to 'remain in place'
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08:58 EDTMARAmerican Express slips following Marriott, Starwood deal announcement
Shares of American Express (AXP) are slipping in pre-market trading following the news that Marriott (MAR) and Starwood Hotels & Resorts (HOT) have agreed to merge. In early June, American Express and Starwood announced new benefits to the Starwood Preferred Guest credit card. Marriott, however, has its co-brand program with JPMorgan Chase (JPM) and the early weakness in American Express shares could reflect concern over a potential change in the merged hotels' co-brand relationships. In pre-market trading, AxEx shares are down about 0.5% to $70.88.
08:57 EDTMARMarriott says 'committed' to management and franchise strategy
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06:19 EDTMARMarriott & Starwood to host joint conference call
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06:12 EDTMARMarriott volatility flat into acquiring Starwood for $12.2B
Marriott (MAR) November call option implied volatility is at 31, December is at 28; compared to its 52-week range of 19 to 41, suggesting non-directional price movement into acquiring Starwood (HOT) for $12.2B in cash, stock.
06:09 EDTMARMarriott to acquire Starwood for $12.2B in cash, stock
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06:09 EDTMARStarwood November volatility up into Marriott acquiring for $12.2B
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06:05 EDTMARMarriott to acquire Starwood for $12.2B in cash, stock
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November 13, 2015
09:03 EDTDDD3D Systems announces two healthcare collaborations
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November 12, 2015
17:32 EDTBABoeing awarded $101.59M government contract modification
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12:02 EDTBANorthrop's U.S. bomber work halted after rivals protest, Reuters says
Work on a long-range strike bomber contract to Northrop Grumman (NOC) has been put on hold after Boeing (BA) and Lockheed Martin (LMT) contested the selection process, Reuters reports, citing a U.S. Air Force spokesman. The spokesman added that the order to halt work was issued after a formal protest was filed November 6, the report says. Reference Link
09:02 EDTPRXLPAREXEL, KPU announce joint program for clinical research
PAREXEL International Corporation and Kyoto Pharmaceutical University, or KPU, a private pharmacy and science university, today announced the new Joint Program for Clinical Research and Clinical Trial Management. The academic program offers undergraduate students an accredited, seven-week course designed to prepare them for careers in the biopharmaceutical industry. The collaboration is intended to meet the needs of a growing number of Japanese biopharmaceutical companies conducting clinical research inside and outside of Japan as part of global drug development initiatives. The course combines PAREXEL's extensive regulatory and clinical research expertise with Kyoto Pharmaceutical University's extensive experience developing highly-specialized research abilities in their "pharmacist-scientists" students. All classes will be conducted in English by non-Japanese lecturers from the PAREXEL Academy and are consistent with global clinical trial standards and practices. The first session begins in KPU's fiscal year 2016 and will be offered annually.
November 11, 2015
06:20 EDTBABoeing abandons BNK as 737 jetliner supplier, Reuters says
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November 10, 2015
18:12 EDTBABoeing awarded $130.13M government contract
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11:08 EDTDDD3D printer makers tumble after ExOne results miss expectations
The shares of 3D printer makers are sinking after one of the smaller companies in the space, ExOne (XONE), reported much weaker than expected results. WHAT'S NEW: ExOne reported a per share loss of 70c, versus analysts' consensus estimate of a per share loss of 11c. The company's revenue came in at $8.9M, versus the consensus outlook of $16.9M. The 3D printer maker provided fiscal 2015 revenue of $40M against the consensus outlook of $55M. ExOne's revenue from 3D printers fell to $2.4M last quarter from $4.2M during the same period a year earlier. However, its revenue from 3D printed and other products, materials and services rose to $6.5M from $5.4M. "Machine sales growth opportunities remain very positive for ExOne and we continue to be enthusiastic about our efforts to establish a dominant market position over time," said ExOne CEO S. Kent Rockwell in a statement."But our customers' delivery scheduling and the complex revenue recognition model for certain of our products and technology have proven to be highly erratic for us to timely predict on a quarter-to-quarter basis," he added. ANALYST REACTION: In a note to investors today, Oppenheimer analyst Holden Lewis said that ExOne's results showed some improvement. The company reported its lowest loss in the past 12 months, and its cash burn rate declined, while its spending eased, the analyst stated. However, the improvement wasn't sufficient, as it still reported a "huge loss" and negative cash flow, Lewis stated. Moreover, the company's machine sales, upon which its future depends, were "poor," the analyst contended. But Lewis said that ExOne's finances did not deteriorate from Q2 levels, while its costs "are under control," its financial model is "stable," and its non-machine business performed well and "hints at value." He kept a $14 price target and Outperform rating on the shares. PRICE ACTION: In morning trading, ExOne tumbled 19% to $8.44, 3D Systems (DDD) dropped 3.5% to $9.75, Stratasys (SSYS) declined 5.5% to $25.25 and Voxeljet (VJET) slid 4% to $5.85.
08:33 EDTBAOrbital ATK awarded Minuteman III PSS contract
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08:00 EDTDCIXDiana Containerships reports Q3 EPS (12c), consensus 1c
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07:31 EDTBAIntelsat to launch Intelsat 29e satellite on January 27, 2016
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06:30 EDTBABoeing sees first maritime spy plane in year or two, Reuters reports
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